2020 Garrigues Integrated Report

This is the fifteenth consecutive year that Garrigues has published an Integrated Report. This report corresponds to the Garrigues 2020 fiscal year (January 1, 2020 through December 31, 2020) and has been prepared in line with the most recent GRI Standards.

In preparing the report, we have taken into account the guidelines and recommendations of the integrated reporting framework published in January 2021 by the International Integrated Reporting Council (now part of the newly-formed Value Reporting Foundation), adapting them to Garrigues’ business and specific situation.

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Once again, I am pleased to present Garrigues’ Integrated Report, which provides an account of the firm’s performance in 2020, sets out the most significant progress made and details the main areas we will be focusing on in the coming years, with a particular emphasis on social, environmental and good governance matters.

2020 was no ordinary year. The profound global impact of Covid-19 has had dramatic consequences. Since the outbreak of the pandemic, we have all had to face an unprecedented situation and make complicated decisions.

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Fernando Vives EXECUTIVE CHAIRMAN

Covering every angle of business law

Garrigues is a benchmark in the legal services industry, an international and innovative firm with a clear value proposition: to be there for each of our clients every day, anticipating their needs and helping them make the best-informed decisions considering all angles of business law. Our professionals work in multidisciplinary teams with an international scope and their expertise in both established and emerging sectors enables them to offer a 360º perspective.

Garrigues’ strength lies in its 2,125 people of 25 nationalities, working across 13 countries, who together make up a global, diverse and close-knit team, always willing to listen and learn in order to propose new ideas and solutions to our clients.

The entire organization, and particularly senior management, has long been committed to building a working environment based on meritocracy and equal opportunities, fostering a true sense of belonging to a unified team, where everyone’s opinion is respected and valued. Garrigues firmly believes that diversity, understood in its broadest sense, enriches the organization and is the main source of innovation at the firm.

Garrigues’ international commitment, which dates back to its very beginnings and has been further consolidated over the past decade, has propelled the firm to open offices in 13 countries in Europe, the Americas, Africa and Asia, which allows us to not only accompany our clients in their international expansion and be highly involved in local markets, but also to participate in the largest cross-border deals. All of this is reflected in our significant international billings, which account for 13% of Garrigues’ total revenue.

The firm’s growth targets come second to profitability. Thanks to our policy of curbing expenses while assuring quality, the productivity ratio in Spain has risen 8.5% in the last five years.

Garrigues is once again the leading law firm in Spain and the European Union in terms of billings. The challenge is to maintain sustained growth in Europe, a mature and highly competitive market, while increasing the weighting of international revenue. The firm posted revenue of €386.9 million in 2020, up 1.4% on 2019.

Garrigues takes a two-fold approach to digitalization, one of its strategic cornerstones. As a business, Garrigues takes the technological steps it needs to ensure a solid future. As a law firm, it draws from its own experience in digital transformation in order to knowledgeably and expertly address its clients’ issues.

To do so, the firm has developed a unique innovation model. Garrigues brings in new market technology that allows it to be more efficient and to better serve clients, while at the same time internally developing tools and solutions to ensure that each step it takes is fully aligned with the firm’s global strategy. An inhouse team of developers and IT specialists work with the firm’s lawyers to continually identify ways to boost the efficiency, productivity and quality of our processes and services.

Along with professional quality and innovation, ethics is one of Garrigues’ three core values. Over the years, the firm has developed a global corporate culture based on solid ethical principles and values, shared by its more than 2,100 members. This culture is key to achieving one of the firm’s major objectives – to consolidate our leading position through excellence – and it allows us to deliver a multidisciplinary service to our clients with the same quality standard across the world.

As an international legal benchmark, we are in an excellent position to address the major challenges facing society and to help build a fairer, more ethical, responsible and sustainable society.

We have pledged to pursue our activities while at the same time advancing the Sustainable Development Goals (SDGs) as part of the United Nation’s 2030 Agenda. Accordingly, we seek to safeguard and enhance the world’s economic, social and environmental assets. Our work is guided by the United Nations Global Compact, to which Garrigues adhered in 2002.

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OUR NUMBERS

13

PRESENT IN 13 COUNTRIES

On 4 continents

32

Offices

14 international offices

3,770

Clients

Who have been with us
on an ongoing basis
for 5 years

2,125

People

25 different nationalities
and 188 new hires
during the year

386.9

Million in revenues

1.40% annual growth

Trust, credibility and client satisfaction

One of our main objectives is to inspire trust in our clients. We take the time to listen to them and fully understand their business and what they do, and we regularly evaluate satisfaction levels. Thanks to these efforts, clients from a diverse range of businesses, in different economic sectors and regions, continue to trust in Garrigues year upon year.

We know how important it is to listen to our clients, to gain in-depth knowledge of their businesses and activities and to understand their needs and goals, so we can deliver solutions that meet these expectations.

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International, Independent and Innovative

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